Everton have had their 10-point deduction for breaching the Premier League’s Profitability and Sustainability Rules (PSR) reduced to six following their appeal hearing.
Everton will now be on 25 points which moves them up to 15th and five points above the bottom three.
It was reported Everton were sanctioned by an independent commission on November 17 after being found to have exceeded permitted losses by £19.5m over an assessment period ending with the 2021-22 season.
The club appealed the decision with the hearing taking place over three days, which concluded at the start of February.
“Everton FC appealed the sanction imposed against it on nine grounds, each of which related to the sanction rather than the fact of the breach, which the club admitted,” the Premier League said in a statement.
“Two of those nine grounds were upheld by the appeal board, which has substituted the original points deduction of 10 for six.”
Everton said they were satisfied the appeal had resulted in a reduction in the points sanction.
Everton said in a statement they were “particularly pleased with the appeal board’s decision to overturn the original commission’s finding that the club failed to act in utmost good faith”.
“That decision, along with reducing the points deduction, was an incredibly important point of principle for the club on appeal,” the statement added. “The club, therefore, feels vindicated in pursuing its appeal.”
“Notwithstanding the appeal board’s decision, and the positive outcome, the club remains fully committed to cooperating with the Premier League in respect of the ongoing proceedings brought for the accounting period ending in June 2023.”
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